The announcement makes for a strategic endplay to an injunction hearing held earlier Tuesday to block owner Loutex Fort Worth from evicting the Reata restaurant and demolishing the building. The Reata's owner had taken the legal recourse after getting an eviction notice just days after property manager Trammell Crow Co. had backed out of a sales option as a result of a structural analysis. The Reata and Trammell Crow have been the only occupants for some time now, with the Trammell Crow staff gearing up for a March 16 move to a nearby company-owned building.

The Fine Line pact falls within days of a fire marshal's report that orders Loutex to "make extensive and expensive repairs to ensure that the tower would be safe for occupancy," according to Tuesday's news release. In line with the fire marshal's report, Loutex is asking all occupants to vacate "in a responsible manner."

The Fine Line sale will be finalized once the tower is empty. Fine Line's William V. Boecker says the demolition will begin as soon as final papers are inked. The cleared site will be cleaned up and used for surface parking until a development opportunity arises for the strategically positioned site at 500 Throckmorton St. in the city's CBD. A six-floor building, which houses a 940-space parking garage and 134,000-sf office annex, will remain intact. Fine Line's goal is "to ensure the situation is handled in the best interest of Ft. Worth," emphasizes Boecker.